With effect from 1st February 2006, Investors will be able to subscribe to the Fund for a minimum of AED 100,000 and subsequent applications from an existing shareholder can be made for a minimum of AED 50,000 per application. In addition, the Fund dealing day has been amended to the first Business Day of each month where such a day is a public holiday then the next succeeding Business Day will be the Dealing Day.
The NBD Gulf Balanced Fund is open-ended and invests primarily in a portfolio of equities and bonds issued by governments and corporations in the Gulf region. For investors with a global portfolio, this provides an opportunity for them to improve their risk/return profile by offering exposure to markets which tend to be uncorrelated to the major equity markets.
It also offers the opportunity for investors with a portfolio of local equities to diversify their exposure to include other regional markets and fixed income instruments in a vehicle professionally managed by a dedicated team of specialists.
Since its inception in September 2004, the NBD Gulf Balanced Fund's net asset value has risen 58.6%.
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NBD announces changes to Aafaq NBD Gulf Balanced Fund Subscription
- United Arab Emirates: Sunday, January 29 - 2006 at 13:00
- PRESS RELEASE
In order to standardise subscriptions for in-house managed Funds, National Bank of Dubai announced today that the Subscription Terms for the Aafaq NBD Gulf Balanced Fund have been amended.
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Log in to request more information from National Bank of Dubai (NBD)
Notes and media contacts
For information about the fund and further details please contact 'The Private Office' at National Bank of Dubai on 04-2012954.About the National Bank of Dubai
Founded in 1963, the National Bank of Dubai is the oldest, locally incorporated bank in the Southern Gulf. Recognized as the bank with a performance that is second-to-none, NBD has built a reputation of stability and strength much appreciated by shareholders and customers alike.
Offering diversified financial services, NBD is a leader in corporate banking. Its portfolio covers a wide range of services including transport, real estate, construction, manufacturing, tourism and service industries throughout the region. In addition, NBD's 'Private Office' provides private banking services, offering highly tailored solutions to preserve and protect the personal wealth of its customers. Along with supplying customers with a variety of exclusive service based products, secured facilities, Credit Cards, personal loans, , auto loans and home loans, the National Bank of Dubai also offers a variety of treasury products and services, advising customers on exchange markets and interest rate outlook. NBD, also recently launched Suhail Priority Banking Services, a premier banking service offering customers personalized relationship management and a host of exclusive products and services. Furthermore, NBD presents their customers with automated banking services, which consist of an internet service (NBD Online), a telebanking facility (NBD Telebank), and an SMS based service (NBD Mobile). With a comprehensive card portfolio that provides an array of benefits, the National Bank of Dubai has, over the years, built a wide ATM network as well as Point of Sale terminals in select locations throughout the UAE.
The National Bank of Dubai currently has an extensive branch network that includes 39 branches throughout the UAE. In addition, NBD also has a branch in London and a representative office in Tehran.
Posted by Anne-Birte Stensgaard, Senior News EditorSunday, January 29 - 2006 at 13:00 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Thu Oct 12 2006.
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